An Obscure Trade Provision May Be Driving Factory Closures

An Obscure Trade Provision May Be Driving Factory Closures

In his forty-plus years in the textile industry, Larry Severini has seen hundreds of factories close, as companies moved women’s wear and home furnishings and then other textile manufacturing overseas. But Severeni was able to maintain two factories that make the blue backgrounds and white stars for American flags—until January 31, 2025. On that day, he closed his factory in Gaffney, S.C., for good, getting rid of millions of dollars of machiner…

Changes in consumer habits, demographic evolution and increased competition have been key factors in closing businesses, including large chains, a trend that is also reflected in the Puerto Rican market.